Libro Credit Union is making a bold step by exclusively offering responsible investment options for all new mutual fund accounts.
Monday, April 26, 2021
The move means people doing business with Libro can be confident their money is driving positive change in society. It also makes Libro, the biggest credit union in southwestern Ontario, the first Canadian credit union to exclusively offer responsible investments through our existing partner organization NEI Investments. While already in place in practice, the official launch date is May 1, 2021.
The decision is linked to Libro’s commitments as a purpose-based business and certified B Corp® – using business as a force for good – and a member of the Responsible Investment Association of Canada.
Libro CEO and Head Coach Steve Bolton said: “This is a bold statement and we know it. We are clear that we want to grow prosperity in a way that’s good for everyone – for people and our local economies and communities, and for the planet.
“It means we are helping Libro Owners to make money while making a difference. We know consumers are driving this demand and the potential for positive impact is huge.”
Responsible investment considers environmental, social and governance factors when selecting and managing investments. Libro knows this approach results in higher long-term financial returns, with a lower investment risk and is calling on other financial institutions to make similar decisions.
Paul McQueen, Libro’s VP Wealth said: “There is a clear demand from our Owners for this change. Investment in our NEI responsible investing solutions has been growing at over 120% a year, for the last 5 years ending March 31, 2021.
“Libro manages over $1 Billion of our Owner assets, though our dealer partnership with Aviso Wealth. Given consumer demand, and recent global government commitments to a more sustainable future, this is simply the right time to take real action.”
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Find out more about Libro in our annual report: A Story of Strength.
Libro Credit Union warmly encourages all approaches from media partners and would be happy to provide leaders for interview.
Media contact: Mike Donachie, Communications Manager
Steve Bolton, Libro’s CEO, President and Head Coach
Paul McQueen, Libro’s VP Wealth